Bank of New York Mellon Corp Buys 39,026 Shares of Best Buy Co., Inc. $BBY

Bank of New York Mellon Corp boosted its stake in Best Buy Co., Inc. (NYSE:BBY) by 2.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,754,844 shares of the technology retailer’s stock after acquiring an additional 39,026 shares during the quarter. Bank of New York Mellon Corp’s holdings in Best Buy were worth $132,701,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BBY. Stablepoint Partners LLC increased its holdings in shares of Best Buy by 19.9% during the third quarter. Stablepoint Partners LLC now owns 14,497 shares of the technology retailer’s stock worth $1,096,000 after buying an additional 2,403 shares in the last quarter. J. Safra Sarasin Holding AG boosted its holdings in shares of Best Buy by 300.0% during the 3rd quarter. J. Safra Sarasin Holding AG now owns 17,226 shares of the technology retailer’s stock valued at $1,303,000 after acquiring an additional 12,919 shares in the last quarter. One Wealth Advisors LLC bought a new stake in Best Buy during the 3rd quarter worth $428,000. Vanguard Personalized Indexing Management LLC increased its holdings in Best Buy by 17.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 46,738 shares of the technology retailer’s stock worth $3,534,000 after purchasing an additional 6,953 shares in the last quarter. Finally, LBP AM SA raised its position in Best Buy by 2.1% in the third quarter. LBP AM SA now owns 132,420 shares of the technology retailer’s stock valued at $10,014,000 after purchasing an additional 2,748 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Price Performance

BBY stock opened at $65.06 on Friday. The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 1.65 and a beta of 1.41. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $91.68. The company’s fifty day simple moving average is $70.83 and its 200 day simple moving average is $73.23.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The firm had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period last year, the business posted $1.26 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. On average, analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Tuesday, December 16th. Best Buy’s dividend payout ratio is presently 125.83%.

Analyst Ratings Changes

BBY has been the topic of several research reports. Guggenheim restated a “buy” rating and set a $90.00 price target on shares of Best Buy in a report on Wednesday, November 26th. Loop Capital lifted their target price on shares of Best Buy from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Barclays decreased their price target on shares of Best Buy from $81.00 to $77.00 and set an “equal weight” rating for the company in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Best Buy in a research note on Wednesday, January 21st. Finally, Daiwa Capital Markets lifted their price target on shares of Best Buy from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, November 28th. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $83.37.

Best Buy Company Profile

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.